The late Mr LMS Hargrave was a former Lord Mayor of Adelaide, a keen cricket follower and a frequent visitor to Adelaide Oval. He was also very interested in the progress and opportunity for young people. By his will, the late Mr LMS Hargrave gave a legacy of $500 to the South Australian Cricket Association to be used entirely at the discretion of the committee.

The trophy named in his honour is awarded annually to the most outstanding cricketer under the age of 23 years as at the 1st October. Each Premier club nominates its most outstanding young player for the season, and from these nominations the winner is chosen by the state selectors.